Sunday, April 28, 2024
Bangladesh RACE Asset Management, the country’s leading fund manager, has declared dividends worth nearly Tk 41 crore on its four mutual funds for their unit holders for the financial year 2022–23.
The trustee board of the funds declared dividends on Monday after reviewing the funds’ audited financial statements for the year ended on June 30, 2023.
Earlier on August 13, the fund manager declared dividends worth Tk 60 crore on its four other mutual funds for the same financial year.
Thus, the fund manager will be paying a total of Tk 101 crore on its eight mutual funds for their unit holders for FY23.
On Monday, EBL NRB Mutual Fund declared cash dividends of 7 per cent or Tk 15.7 crore, while AB Bank 1st Mutual Fund declared dividends of 5 per cent or Tk 11.95 crore, Popular Life 1st Mutual Fund announced dividends of 2.5 per cent or Tk 7.48 crore, and PHP First Mutual Fund declared 2 per cent cash or Tk 5.64 crore for their unit holders.
Out of the country’s 36 listed mutual funds, 33 are being traded at discounts on the stock exchanges. The market capitalisation of 36 funds stood at Tk 37.5 billion, while the assets under Management (AUM) of the sector stood at Tk 58.6 billion.
RACE holds the highest market share of 50.8 per cent with 10 funds and an AUM of Tk29.8 billion.
